Keywords: By LANANH NGUYEN & LAURA HURST LONDON (Bloomberg) — Ineos Group Holdings is shutting the 210,000 bpd Grangemouth oil refinery and petrochemical site before a strike this weekend that could halt 45 % of the United Kingdoms crude production. The company is progressively stopping units before a 48- hour industrial action planned by Unite union workers, scheduled to begin on October 20. Were currently going through a safe shutdown of the site, Richard Longden, a spokesman for Ineos, said by phone from London. The units will be brought to a cold status by the time the strike action starts. Grangemouth workers held a two-day strike in April 2008 that cut North Sea oil output and disrupted fuel supplies across Scotland. The site supplies power and steam to BP’s neighboring Kinneil processing plant, which handles oil from the companys Forties Pipeline System gathered from more than 80 offshore fields. FPS is scheduled to load 387,000 bpd of crude in October, according to a shipping program obtained by Bloomberg news. Union representatives and Ineos will meet for talks mediated by the United Kingdoms Advisory, Conciliation and Arbitration Service after discussions ended without resolution, Unite said in a statement. The discussions are scheduled in Glasgow, Scotland, according to the United Kingdom Department of Energy and Climate Change. Forties Output Were in touch with Ineos to establish the possible impact of the shutdown, Robert Wine, a London-based spokesman for BP, said by phone. Operations at the Kinneil plant will depend on the outcome of negotiations between Ineos and the union, he said. Forties output averaged 382,000 bpd this year, according to loading programs obtained by Bloomberg News. The United Kingdoms average crude production was 850,000 bpd this year, data from the International Energy Agency show.
“This EU Tobacco Directive defies logic, even the EU’s twisted logic,” he said. “Banning packs of ten will not stop people smoking… it will just make them buy more cigarettes and make them poorer. “We criticise McDonald’s for supersizing but this EU directive will simply encourage tobacco manufacturers to do the same. This makes no sense. “Over one million people in the UK smoke menthol cigarettes. Banning menthol cigarettes will not stop them smoking, this measure will simply increase the black market. “Furthermore, the attempt here to medicalise and shunt electronic cigarettes into pharmacies is devastating for people who are earnestly trying to give up smoking. “Recent research has shown e-cigarettes are the most effective way to help people quit smoking if they want to. “The demand to put large health warnings on cigarette packs will harm the packaging industry and make counterfeiting easier, leading to a fall in national government tax revenues. It will be a boost to black marketeers. This vote today ensures the EU Tobacco Directive is counterproductive and contradictory. “The issue for us as a libertarian party is quite simple. The EU should not be dictating to people how they live their lives.
Alcoholic Drinks in the United Kingdom: New Research Report Available at Fast Market Research
Sales of alcoholic drinks were restrained in 2012 as consumer confidence had yet to pick up. On-trade consumption continued to suffer as most consumers cut back on costs and focused on at- home entertainment due to it being cheaper. Off-trade volume consumption grew in many areas, largely as a result of price promotions, with value sales growth being somewhat… Euromonitor International’s Alcoholic Drinks in United Kingdom report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2008-2012), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market – be they legislative, distribution or pricing issues. Forecasts to 2017 illustrate how the market is set to change. Product coverage: Beer, Cider/Perry, RTDs/High-Strength Premixes, Spirits, Wine. Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data. Reasons to Get This Report – Get a detailed picture of the Alcoholic Drinks market; – Pinpoint growth sectors and identify factors driving change; – Understand the competitive environment, the market’s major players and leading brands; – Use five-year forecasts to assess how the market is predicted to develop. About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information.
Assetz Capital Charges into Peer to Peer Lending Space in United Kingdom
Hestarted his career at GE Capital before moving to NatWest, Allianz and finally RBS Group. Having spent spent 15 years in the SME finance industry he understands the challenges inside and out. He was very kind in answering a few questions about his company. KV: Please share how the concept for Assetz came about. Who had the idea to get into P2P? The company has been around since 1999 so adding P2P appears to be a natural expansion for the business. Andrew Holgate: The three original directors of AC, Stuart Law, David Penston and Andrew Holgate, wanted to move into this sector. Stuarts Assetz Group, which is the UKs leading buy-to-let broker, had the investor base that it had built up since 1999, while David and Andrew had the banking experience. Very quickly from a business idea Chris Mellish joined the team as CTO. He had written software for another large platform and was an ideal choice for us. Soon after that, Paul Moore joined as Chairman. The 5 founders all had an interest in the sector but believed it could be done better. We believe we have one of the best boards in the sector. KV: What are some statistics as to the range of size of loans? Number of investors per loan? Andrew Holgate: We have lent from 35k to 1.5m, but the average loan is 200k to 300k in size. We have just over 1900 lenders registered to us and the average investment per loan is around 750. Not all investors go into every loan but they pick and choose in order to spread the risk. Our smallest investment has been 20 and the largest over 600,000. KV: All loans are asset backed. What percentage is based off of Real Estate? What are some other types of Assets which have been used to raise debt? Andrew Holgate: Around 90% has some form of property as security for the loan. However we have taken charges on other assets such as boats as well as plant and machinery. KV: With an average annual interest rate of 10.3% this appears to be very high compared to traditional loans.